Harmoney puts brakes on secondary market

Peer-to-peer lender Harmoney is putting a secondary market on the back burner because it says it is not a priority for investors.

Tuesday, March 22nd 2016, 6:00AM 1 Comment

Squirrel Money recently became the first peer-to-peer operator with a licence for a secondary market granted by the Financial Markets Authority.

Harmoney had been working on something similar but general manager Monica Mathis said it was not an immediate priority.

“We have a priority list of around 45 key improvements to our product offering for retail investors, which is now well advanced. Secondary market was not high on the list of priorities from our retail investors when we surveyed them recently.”

Harmoney is working on a launch into Australia.

Mathis said that was on track and was being tested in beta private mode at present.

Tags: Harmoney Peer to Peer Lending Squirrel

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Comments from our readers

On 28 May 2016 at 2:45 pm yeahright said:

I don't believe that a secondary market was not a high priority for investors. It is a huge advantage to add liquidity to this market. This would allow mum and dad investors to invest a larger percentage of their earnings at all times knowing that they can get their money back out at any time.

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Harmoney puts brakes on secondary market

Peer-to-peer lender Harmoney is putting a secondary market on the back burner because it says it is not a priority for investors.

Tuesday, March 22nd 2016, 6:00AM 1 Comment

Comments from our readers

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